New home sales rose by 6.1% in February, greater than expected.
The Office’s Dwight Shrute may shed a tear today.
There was a Trump Surge in Treasury yields and Mortgage rates following Trump’s election in November 2016. But Mortgage Purchase Applications rose.
Remember the furor over the 2016 Presidential Election where Donald Trump won the Electoral College vote, but not the Popular Vote?
Will there be a seismic shift in bond and agency MBS volatility as The Fed gradually raises rates and starts to unwind their massive balance sheet?
Industrial production in February MoM remains unchanged from January. And YoY, industrial production rose a measly 0.31%, The good news?
The Consumer Financial Protection Bureau (CFPB) was the brainchild of Elizabeth Warren (D-MA). It was designed to be an autonomous bureau, outside the gazing eyes of Congress in terms of oversight.
So much for the meme that rising rates would crush the housing market.
According to the US Census Bureau, housing starts rose 2.96% in February. However, 1-unit (detached) housing starts rose 6.47%, finally getting back to 1993 levels.
To no ones’ surprise, The Federal Reserve Open Market Committee (FOMC) raised the upper bound of their Fed Funds Target rate to 1.00%.